Heartland Financial Q1 net income $49.7M, EPS $1.16; announces Rocky Mountain Bank sale

HEARTLAND FINANCIAL USA INC

2024-Q1 EPS reported $1.16

Net income $49.7M ($1.16 diluted EPS); adjusted EPS $1.22, excluding $3.4M in acquisition/restructuring and FDIC special assessment.
Net interest margin (FTE) 3.57%, up from 3.52% Q4 2023; loan yield 6.63% vs 6.49%.
Customer deposits grew $9.2M (ex-Rocky Mountain Bank); wholesale deposits reduced by $312.4M.
Announced sale of Rocky Mountain Bank (9 branches) for pre-tax premium $30-35M; expected close early Q3 2024.
Nonperforming assets down 11% to $98M (0.51% of assets).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

HEARTLAND FINANCIAL USA INC reported financial results for the quarter ended March 31, 2024.

Period: the quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On April 29, 2024, Heartland Financial USA, Inc. ("HTLF") issued a news release announcing its earnings for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001140361-24-022696

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